Bitcoin price went above $ 8000 for the first time since November 21st. Currently, the price is over $ 8030.
There is no specific catalyst behind today’s movement, but for the third consecutive time, the price has been rising in price and by a considerable amount. The price is already meeting resistance, which will be the key moment here, which will ensure the additional price increase. The area is strong, we already have two previous broken diagonals, but CCI has not yet crossed the bottom 50 up, and the area at 50 Fibonacci is holding the front for now.
If the Kendall of today ends in this way, a “three white wars” configuration will be formed, which foreshadows the continuation of the upward movement in the medium term.
Recently, however, the reasons that shape such impulses in digital currencies, most notably in Bitcoin, are either the sale of stolen bitcoins, the partial sale of whale portfolios or the systematic pumping through Tether. History shows that after such times, it will usually be followed by a significant reduction in price.
Trader Milko Zashev